Aptech hits the roof after Jhunjhunwala hikes stake

Aptech hit an upper circuit limit of 10% at Rs 175.05 at 15:11 IST on BSE after investor Rakesh Jhunjhunwala bought an additional 16.03 lakh shares of the company.

Meanwhile, the BSE Sensex was up 117.36 points, or 0.41%, to 29,043.72.

On BSE, so far 2.58 lakh shares were traded in the counter, compared with average daily volume of 4.08 lakh shares in the past one quarter. The stock was frozen at 175.05, which is also a 52-week high for the counter. The stock hit a low of Rs 167 in initial trade. The stock hit a 52-week low of Rs 51.60 on 12 February 2016. The stock had outperformed the market over the past 30 days till 7 September 2016, rising 71.41% compared with 3% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 134.39% as against Sensex's 8.08% rise.

The small-cap IT training services firm has equity capital of Rs 39.89 crore. Face value per share is Rs 10.

Investor Rakesh Jhunjhunwala bought an additional 16.03 lakh shares of Aptech. The additional shares were purchased between 9 August 2016 and 7 September 2016. With this purchase, Jhunjhunwala now holds 1.96 crore equity shares, or 49.30% of Aptech. The disclosure was made after market hours yesterday, 7 September 2016.

Moreover, Aptech announced after market hours yesterday, 7 September 2016, its foray into preschool education, through a strategic alliance with Montana International Preschool. Branded Montana International Preschool powered by Aptech (MIPA), the alliance intends to set up 1000 preschools in India over the next two years. The course curriculum has been developed by a team of experts from Aptech and Montana International Preschool.

On a consolidated basis, net profit of Aptech declined 1.37% to Rs 0.46 crore on 18.22% rise in net sales to Rs 57.92 crore in Q1 June 2016 over Q4 March 2016.

Aptech has been the pioneer in the education and training business for the past thirty years. With a current presence in more than 1300 centers, Aptech has effectively ventured into ten diverse sectors ranging from IT training to personal development. With a presence in 40 emerging countries, it has successfully trained over 6.8 million students through its two main streams of business- individual training and enterprise business.

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